CIBC
Upgrade grade
D
Downgrade grade
B
CIBC, or Canadian Imperial Bank of Commerce, traces its roots to 1867 when the Imperial Bank of Canada was established, eventually merging with the Commerce Bank in 1961 to form the institution known today. As one of Canada's "Big Five" banks and a major North American financial services powerhouse, CIBC operates with significant scale across investment banking, wealth management, and equity research divisions. The firm is particularly renowned for its coverage of Canadian equities and sectors with strong ties to Canada's economy, including energy, materials, financials, and telecommunications, while also maintaining robust coverage of broader North American markets. A distinctive aspect of CIBC's research culture is its deep integration with the Canadian investment community and institutional clients, positioning the firm as a trusted voice on domestic economic trends and cross-border transactions, a reputation built over more than 150 years of operational history.
Upgrades
62
67.74% win rate
· avg +1.37% D1
Downgrades
70
77.14% win rate
· avg -3.12% D1
Avg Gap — Upgrades
+1.33%
open vs prev close
Avg Gap — Downgrades
-1.71%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Basic Materials | 63.33% (30) | +1.94% | 74.29% (35) | -1.48% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2025 | 70.0% | 10 | — | — |
| 2016 | — | — | 100.0% | 13 |
| 2013 | — | — | 66.7% | 12 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| Aug 19, 2026 | BMO | Bank of Montreal | Financial Services | Downgrade | Sector Outperform → Neutral | — | +0.3% | -3.7% |
| Jul 29, 2026 | XNDU | Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares | Technology | Initiates | Sector Outperform | $22 | +1.2% | -2.7% |
| Jul 20, 2026 | MEOH | Methanex Corporation | Basic Materials | Upgrade | Neutral → Sector Outperform | $71 | -0.5% | -0.2% |
| Apr 28, 2026 | TFII | TFI International Inc. | Industrials | Maintains | Outperform → Outperform | — | +3.3% | +4.7% |
| Apr 21, 2026 | B | Barrick Mining Corporation | Basic Materials | Maintains | Outperform → Outperform | — | -0.7% | -5.8% |
| Apr 21, 2026 | AEM | Agnico Eagle Mines Limited | Basic Materials | Maintains | Outperform → Outperform | — | -0.8% | -6.1% |
| Apr 21, 2026 | NEM | Newmont Corporation | Basic Materials | Maintains | Outperform → Outperform | — | -0.7% | -4.8% |
| Apr 20, 2026 | XIFR | XPLR Infrastructure, LP | Utilities | Maintains | Neutral → Neutral | — | -0.3% | -1.9% |
| Apr 20, 2026 | AQN | Algonquin Power & Utilities Corp. | Utilities | Maintains | Neutral → Neutral | — | -0.2% | -1.3% |
| Apr 20, 2026 | MWH | SOLV Energy, Inc. Class A Common Stock | Industrials | Maintains | Outperform → Outperform | — | -0.1% | +1.1% |
| Apr 20, 2026 | BEP | Brookfield Renewable Partners L.P. | Utilities | Maintains | Outperform → Outperform | — | -0.2% | +0.2% |
| Apr 20, 2026 | DDOG | Datadog, Inc. | Technology | Maintains | Outperform → Outperform | — | -1.3% | +2.5% |
| Apr 16, 2026 | EFXT | Enerflex Ltd. | Energy | Maintains | Neutral → Neutral | — | +0.4% | +0.9% |
| Mar 17, 2026 | MEOH | Methanex Corporation | Basic Materials | Maintains | Neutral → Neutral | — | +0.4% | +1.4% |
| Mar 17, 2026 | MOS | The Mosaic Company | Basic Materials | Maintains | Neutral → Neutral | — | +0.2% | +4.2% |
| Mar 17, 2026 | CF | CF Industries Holdings, Inc. | Basic Materials | Maintains | Neutral → Neutral | — | +1.0% | +0.8% |
| Mar 17, 2026 | NTR | Nutrien Ltd. | Basic Materials | Maintains | Outperform → Outperform | — | +0.8% | +2.3% |
| Mar 12, 2026 | SSRM | SSR Mining Inc. | Basic Materials | Upgrade | Neutral → Outperform | — | +2.3% | -2.8% |
| Mar 11, 2026 | CLS | Celestica Inc. | Technology | Maintains | Outperform → Outperform | — | -0.7% | -1.3% |
| Mar 10, 2026 | AQN | Algonquin Power & Utilities Corp. | Utilities | Maintains | Neutral → Neutral | — | -0.2% | -0.3% |
| Feb 18, 2026 | MGA | Magna International Inc. | Consumer Cyclical | Upgrade | Neutral → Outperform | — | +1.2% | +0.0% |
| Feb 17, 2026 | TRP | TC Energy Corporation | Energy | Downgrade | Outperform → Neutral | — | -0.3% | -2.1% |
| Feb 6, 2026 | MEOH | Methanex Corporation | Basic Materials | Downgrade | Outperform → Neutral | — | +0.8% | +0.4% |
| Jan 28, 2026 | HL | Hecla Mining Company | Basic Materials | Maintains | Neutral → Neutral | — | +2.2% | -4.0% |
| Jan 16, 2026 | OTEX | Open Text Corporation | Technology | Maintains | Neutral → Neutral | — | -0.1% | -2.4% |